Shyam Metalics and Energy Ltd., a top metal manufacturer in India, is launching a clean energy initiative by integrating rooftop and floating solar at its facilities across the country. This move underscores the company’s dedication to sustainability, decarbonization, and India’s green energy goals.
The company has unveiled Phase 1 of its project, with a capacity of 5.2 MWp, followed by Phase 2 at 4.8 MWp. Phase 3, executed under a Group Captive and OPEX model, involves a 10.43 MWp distributed project developed with a Renewable Energy Service Company (RESCO).
This phase will utilize floating solar and rooftop installations across various facilities in Kolkata, Pakuria, Jamuria, Mangalpur, Sambalpur, and Pithampur. With an average power cost of Rs. 3.10/kWh in FY24, the new solar plants are expected to further reduce power expenses.
The 20.43 MWp solar capacity is expected to generate 35,793.36 MWh of clean energy annually, reducing CO2 emissions by 35,077.49 tons. Floating solar installations will also conserve water by minimizing evaporation and improve panel efficiency by 5-10% due to the cooling effect of water.
The company currently has a 377 MW captive power generation capacity and 9 MW of renewable power, used in producing long steel products, ferro alloys, and aluminum foils.
Mr. Brij Bhushan Aggarwal, Vice Chairman and Managing Director, stated, “Shyam Metalics is dedicated to responsible practices and reducing our carbon footprint. Our investment in renewable energy reinforces our commitment to clean energy and supports the Government’s ‘Panchamrit’ goals. As industry leaders, we aim to set an example and encourage other businesses to adopt sustainable practices.”